Prime Minister Rozgar Yojana (PMRY) Loan Scheme 2017 – 2018

Respected reader if you want to know the latest broadcast regarding Prime Minister Rozgar Yojana (PMRY) Loan Scheme 2017 – 2018 Form and other details then these all are available here. For your kind information that this Prime Minister Rozgar Yojana (PMRY) Loan Scheme put in the action in 1993. The main motive and target of this scheme are to give some financial aid to the educated persons for the help of building their own business. This PMR Yojana came on the ground in 8th Plan period. According to the beneficiaries, there are so many issues and regulation which are not enough to fulfill the main agenda of this PM Rozgar Yojana (PMRY) Loan Scheme 2017 – 2018. So, the recent ruling government of India modified it by so ways that this will easily accessible and give a sufficient aid to open the business.

Latest modification and norms of (PMRY) Loan Scheme 2017 – 2018

There are so many differences between the previous provision of this scheme and in the latest Prime Minister Rozgar Yojana (PMRY) Loan Scheme 2017 – 2018. So many, candidates who take some advantage through this scheme complain that the provided money and other points are not so good to get the actual revenue as they think. For your efficiency, we have presented the differences of both PMRY Loan Scheme 2017 – 2018 and last scheme through this individual page. This scheme sponsored by the central Govt. of the republic of India.

Differences between previous PMRY & PMRY 2017-18

On that time when this scheme has launched the target of government is to give Rs. 1 Lakhs just for graduate unemployees. The public claim that this thing and other eligibility criteria are in favor of all unemployed and government provide the benefits of one lakh INR as financial aid. But in the latest PM Rozgar Yojana Loan Scheme 2017 – 2018 this aid increase to 2 lakhs for anyone and government modified this as anybody which is at least 8th class pass/fail are eligible to apply for this Yojna. The online application form’ link is given below with the instructions of how to apply online for PMR Yojana 2017-18. And the most important steps and modifications in this Yojana is that know there are SC/ST & women candidates have some age relaxation that we mentioned below & the eligibility criteria modify as that as much as aspirants can take benefits of this PMRY Loan Scheme 2017 – 2018.

Eligibility Criteria for Prime Minister Rozgar Yojana 2017-18

This Yojna is only for those family/candidates which are having Rs. 40000/- annual income

No one will be insisted above than Rs. 1 Lakhs under this Yojna.

For a group of any Laghu Udhyog can get Rs. 5 Lakhs as an aid

Key Features of Latest PMRY 2017-18

Features of the Scheme

Details

Age

For all educated unemployed 18-35 years in general with a 10 years relaxation for SC/STs, ex-servicemen, physically handicapped and women.

Educational Qualification

VIIIth passed. Preference will be given to those who have been trained for any trade in Government recognized approved institutions for a duration of at least six months.

Family Income

Neither the income of the beneficiary along with the spouse nor the income of parents of the beneficiaries shall exceed Rs. 40,000/- p.a.

Residence

Permanent resident of the area for at least 3 years.

Defaulter

Should not be a defaulter to any nationalized bank/financial institution/ cooperative bank. Further, a person already assisted under other subsidy linked Government schemes would not be eligible under this Scheme.

Rs.1.00 lakh for the business sector. Rs. 2.00 lakhs for other activities, loan to be of composite nature. If two or more eligible persons join together in a partnership project up to Rs. 10.00 lakhs are covered. Assistance shall be limited to individual admissibility.

Subsidy & Margin money

The subsidy will be limited to 15% of the project cost subject to a ceiling of Rs. 7,500/- per entrepreneur. Banks will be allowed to take margin money from the entrepreneur varying from 5% to 16.25% of the project cost so as to make the total of the subsidy and the margin money equal to 20% of the project cost.

Collateral

No collateral for project up to Rs.1 lakh. Exemption from collateral in case of partnership project will also be limited to an amount of Rs. 1.00 lakh per person participating in the project.

Rate of interest & Repayment Schedule

The normal rate of interest shall be charged. Repayment schedule may range between 3 to 7 years after an initial moratorium as may be prescribed.

Training & other assistance.

The training expenses and operational expenditure to be covered by the ceiling of Rs. 2,000/- per case. The existing system of revising the scale of expenditure in consultation with the Finance for various activities and flexibility would be available to the implementing agencies of the State and Central levels subject to the condition that over all training and operating expenses remain within the ceiling of Rs. 2,000/- per case sanctioned.

Implementing Agency

The District Industry Centres and the Directorates of Industries shall mainly be responsible for scheme implementation along with banks.

Linkages of targets with recovery

Basic minimum targets based on the population and the number of educated unemployed. Additional targets would be linked to the recovery of loans sanctioned, past performance of sanctions or special circumstances prevailing in the State/UT.

Reservation

Preference should be given to weaker sections including women. The scheme envisages 22.5% reservation for SC/ST and 27% for Other Backward Class (OBCs). In case SC/ST/OBC candidates are not available, State/UTs Govt. will be competent to consider other categories of candidates under PMRY.